ITC shares slide 3% on block deal buzz; FMCG giant down 29% in 2026

ITC shares came under pressure on Thursday, October 8, as market participants reacted to reports of possible block transactions. Nearly 39 crore shares changed hands across the NSE and BSE, although the counterparties were not immediately known. The stock was last quoted at Rs 256.30, down 3.5% for the day. It has lost 2.7% in one month and 8.6% in three months, and is 39% below its 52 week high. The shares have fallen 29% in 2026. Over the same shorter periods, the FMCG sector declined 2.0% and 3.2%, respectively. Reports of a block deal remain unconfirmed without disclosed buyer and seller identities.

The scale of turnover matters because a large secondary sale can temporarily add supply, pressure the clearing price and create an ownership overhang even when the underlying business is unchanged. For Indian equities, the immediate exposure is ITC, while unusually weak trading in a heavyweight may also weigh on FMCG sentiment and institutional flow perceptions. ITC's declines over one and three months are steeper than the FMCG sector's 2.0% and 3.2% falls. Exchange or company disclosures identifying the parties, followed by a visible ownership change and sustained heavy volume, would support the block sale interpretation. Routine portfolio churn, no ownership shift and price stabilisation would weaken it.